Multiple Choice
On January 1, 2016, Ted purchased a small software company for $200,000. He paid $120,000 for the fixed assets of the company and $80,000 for goodwill. How much amortization may Ted deduct on his 2016 tax return for the purchased goodwill?
A) $0
B) $5,333
C) $5,750
D) $6,000
E) $90,000
Correct Answer:
Verified
Correct Answer:
Verified
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